Sunlight Financial Holdings Inc. Class A Common Stock (NYSE: SUNL)
The claims relate to the Merger that was consummated pursuant to a merger agreement dated January 23, 2021, among Spartan, SL Invest I Inc., SL Invest II LLC, SL Financial Investor I LLC, SL Financial Investor II LLC, SL Financial Holdings Inc., SL Financial LLC, and Tiger Co-Invest B Sunlight Blocker, LLC. The Complaint alleges that Defendants filed materially misleading Securities and Exchange Commission Filings and Prospectus misleading the Spartan stockholders on key topics, thereby deceiving the Spartan stockholders out of exercising their redemption rights. Including, among other things: a. the Prospectus failed to disclose that the solar industry were suffering from supply-chain problems; and b. the Prospectus misrepresented and concealed the value of Spartan stock, which was of material importance to the unaffiliated stockholders.